The biggest IPO ever is just a few weeks away as reports say SpaceX has accelerated its timeline for coming public, and investors are cheering the company’s lofty ambitions.
Elon Musk’s rocket and satellite giant, which recently merged with his AI startup, expects to price its IPO as soon as June 11, with a trading debut on the Nasdaq due to follow the next day under the ticker SPCX, sources told Reuters.
Before that, SpaceX could file publicly for the IPO as early as Wednesday, with a roadshow kicking off on June 4, the report said. The prior timeline put the IPO near the end of June.
The company had already filed confidentially and is seeking to raise up to $75 billion at a valuation of $1.75 trillion. That would surpass the current record holder for the biggest IPO ever: Saudi Aramco, which $29 billion raised at a $1.7 trillion valuation in 2019.
Since its founding in 2002, SpaceX has taken over the market. It claimed more than 80% of global rocket launches last year and has over 10,000 Starlink satellites in orbit, providing space-based internet connections to businesses and militaries.
